Head – Operational Risk – Bank/Financial Sector

ABC Consultants; Mumbai; On-site; INR 2,000,000 - 3,000,000; Full time

Job summary

A financial consulting firm in Mumbai seeks an Operational Risk Manager to oversee operational risk across the Bank, ensure compliance, and implement business continuity planning. The ideal candidate has a graduate degree, 14 years of experience in the banking sector, including 5-7 years in risk management, and relevant financial risk certifications. This role demands a strong understanding of operational risk frameworks and statistical analysis tools.

Qualifications

• Must have a graduate degree from a recognized university by July 31, 2023.
• Minimum 14 years of experience in the banking or financial sector, with 5-7 years in the risk function.
• Professional certification in Financial Risk Management is mandatory.

Responsibilities

• Manage and oversee operational risk across the Bank.
• Develop and implement the Bank’s BCP framework.
• Ensure compliance with regulatory guidelines.
• Lead initiatives in operational risk analytics.

Skills

Operational risk management

Crisis incident management

Business continuity planning

Risk analytics

Compliance

Statistical analysis

Python

Data modeling

Education

Graduate Degree from recognized College/University

Professional certification in Financial Risk Management

Professional Risk Management Certification from PRMIA Institute

Certifications in specialized areas of Operational Risk

Tools

Tableau

R

Job description

The key roles and responsibilities include:

Supervision of Operational Risk Function

• Overall responsibility for the effective management and oversight of operational risk across the Bank.

Policy Development and Review

• Framing, implementing, and regularly reviewing the Bank’s Operational Risk Management policies to ensure alignment with regulatory standards and industry best practices.

Business Continuity Planning (BCP)

• Responsible for developing and implementing the Bank’s BCP framework and ensuring its regular testing to maintain readiness for operational disruptions.

Crisis Incident Management

• Leading the Bank’s response to operational risk-related crises, ensuring timely and effective incident management to minimize disruptions.

Compliance and Regulatory Adherence

• Ensuring compliance with all applicable regulatory and statutory guidelines related to operational risk, and facilitating effective reporting to internal and external stakeholders.

Risk Tolerance and Appetite Framework

• Defining and maintaining the risk appetite framework for operational risks, including setting both qualitative and quantitative tolerance levels.

Operational Risk Analytics and Modelling

• Leading initiatives in operational risk analytics, including the development, validation, and calibration of risk models to enhance risk assessment and mitigation strategies.

Committee Involvement

• Serving as a member or convener of committees such as the Business Continuity Planning (BCP) Committee and other relevant forums, ensuring an operational risk focus in discussions and decisions.

Continuous Improvement

• Driving ongoing enhancements to the Bank’s Operational Risk Management practices and policies to address emerging risks and adapt to changing regulatory and business environments.

Representation and Advocacy

• Representing the Bank at external forums and engagements on operational risk matters, ensuring alignment with industry standards and practices.

Other Responsibilities

• Undertaking any additional operational risk-related duties as assigned by the Bank from time to time.

Educational Qualification

• Mandatory educational qualification as on July 31, 2023: Graduate Degree from a recognized and registered College / University with:
• Professional certification in Financial Risk Management from Global Association of Risk professionals
• Professional Risk Management Certification from PRMIA Institute
• Certification in all the following specialized areas of Operational Risk
• Desirable additional Qualification: Degree/ diploma / certificate in or Knowledge/appreciation of :
• Statistics methods, including forecasting, time series, hypothesis testing, classification, clustering or regression analysis;
• Python/ Tableau/ R, other statistical/ mathematical tools, etc. for performing data modeling, analysis, dash boarding, etc.

Mandatory Experience

• Minimum 14 years of experience in a Bank /Financial Sector of which 5 to 7 years should have been in the Risk function.

Desirable additional Experience

• Understanding of market risk and / or liquidity management with exposure to analytics being an added desirable experience.